Buyer Consultation Real Living Lifestyles. Important Factors for Buyers Source NAR 2009.

Buyer Consultation Buyer Consultation Real Living LifestylesReal Living Lifestyles

Important Factors for Important Factors for BuyersBuyers

Source NAR 2009

What Do Buyers Want?What Do Buyers Want?

Source NAR 2009

How do Buyers Find an How do Buyers Find an Agent?Agent?

Source NAR 2009

How Much Competition Do You How Much Competition Do You Really Have?Really Have?

Source NAR 2009

The Lead Conversion The Lead Conversion ProcessProcess

Lead Capture

Build Connection

Close toAppointment

Do You Want to Know ……Do You Want to Know ……

The Biggest Mistake Real The Biggest Mistake Real Estate Agents Make When Estate Agents Make When

Working With Buyers?Working With Buyers?

Spending Time Working with Spending Time Working with Non-Qualified BuyersNon-Qualified Buyers

Top 10 Reasons to Top 10 Reasons to Work with BuyersWork with Buyers

1. Buyers are a quick way to a close of escrow1. Buyers are a quick way to a close of escrow 2. Working with Buyers is Fun!2. Working with Buyers is Fun! 3. It is relatively inexpensive to work with buyers3. It is relatively inexpensive to work with buyers 4. Buyers can keep you going in a down market4. Buyers can keep you going in a down market 5. Buyers have something to sell at some point 5. Buyers have something to sell at some point

forfor

future businessfuture business

1

Top 10 Reasons Top 10 Reasons (cont)(cont)

6. They are a great source of referral 6. They are a great source of referral 7. Buyers love that they can use our 7. Buyers love that they can use our

service service

for freefor free 8. You get to build relationships8. You get to build relationships 9. The service time is usually pretty 9. The service time is usually pretty

quickquick 10. You get to help people build wealth10. You get to help people build wealth

Duties of Buyers AgentDuties of Buyers Agentper CAR Form BREper CAR Form BRE

· Locate and present selected properties

· Present offers

· Assist in negotiating

· Assist in buyer financing process

· Provide list of professional vendors

· Order reports

· Schedule and attend inspections and meetings

· Provide guidance to help buyer with acquisition of property

· Review Forms and Disclosures

· Create a Property Contract

· Conduct a reasonably competent and diligent on-site visual

inspection of the accessible areas of the property

· Disclose all facts materially affecting the value or desirability of such property

· Deliver disclosures

· Facilitate the escrow process• 

2

3

Flow of a BuyerFlow of a Buyer

4

What NAR Says…..What NAR Says…..

What Information Sources do What Information Sources do Buyers Use To Find Their HomeBuyers Use To Find Their Home

85%85% People use a Real Estate AgentPeople use a Real Estate Agent 80% 80% Use the InternetUse the Internet 63% 63% Drive by and see the Yard SignsDrive by and see the Yard Signs 55% 55% Use the NewspaperUse the Newspaper 47% 47% Open HousesOpen Houses 34% 34% Home Book MagazineHome Book Magazine 26% 26% New Homes ProjectsNew Homes Projects 11% 11% TelevisionTelevision 5% 5% Relocation CompanyRelocation Company 5

Where do Buyer Find their Where do Buyer Find their HomeHome

6

Goal with BuyersGoal with Buyers

Build RapportBuild Rapport Identify the Problem They HaveIdentify the Problem They Have Present a SolutionPresent a Solution Have a Follow up PlanHave a Follow up Plan 7 Important Rules7 Important Rules Areas to Build Rapport InAreas to Build Rapport In

7

Buyer Pre-QualificationBuyer Pre-Qualification

9

Buyers Initial ContactBuyers Initial Contact

UseUse FORD Method to build FORD Method to build RapportRapport

FORDFORDFamilyFamily

OccupationOccupation

RecreationRecreation

Dreams – Future VisionDreams – Future Vision

10

Mirror & MatchMirror & Match

What they say when they answerWhat they say when they answer Rate of SpeechRate of Speech Volume of their voiceVolume of their voice Tone of their voiceTone of their voice Body LanguageBody Language Use the same words they useUse the same words they use

VAK Personality StylesVAK Personality Styles VisualVisual AuditoryAuditory KinestheticKinesthetic

11-13

Establish Standards for Establish Standards for Buyers You Will Work WithBuyers You Will Work With

Will come in to the office for a consultationWill come in to the office for a consultation Will get pre-approved for their loanWill get pre-approved for their loan Will sign a buyer broker agreementWill sign a buyer broker agreement Will purchase a home within the next 30-60 Will purchase a home within the next 30-60

days days Have a realistic view of what they can purchaseHave a realistic view of what they can purchase All Buyers need to attend the first meetingAll Buyers need to attend the first meeting What else is on your list?What else is on your list?

14

Gather Gather InformationInformation

In a In a SystematicSystematic

WayWayBuyer’sBuyer’sIntake Intake

15

Likes & Must HavesLikes & Must Haves

CompleteThe Likes and Must

Haves

20

Ask Great Questions Ask Great Questions pg 21pg 21

Types of ClosesTypes of Closes

Trial closesTrial closes– An opportunity to see if they are in An opportunity to see if they are in

agreementagreement

Assumptive closesAssumptive closes– Assume they will take the next stepAssume they will take the next step

Conditional CloseConditional Close– Link the close to solving the clients Link the close to solving the clients

problemproblem Tie Downs Tie Downs

– Asking for confirmationAsking for confirmation 22

Trial ClosesTrial Closes

Would that be acceptable for Would that be acceptable for you?you?

Can you see yourself living here?Can you see yourself living here? Would you be willing to change Would you be willing to change

the paint to a color you would likethe paint to a color you would like If I could get that included would If I could get that included would

that finalize the choice for youthat finalize the choice for you

Assumptive CloseAssumptive Close

When we get back to the office to When we get back to the office to write the offer I can check the write the offer I can check the compscomps

When you choose me to represent When you choose me to represent you as your buyer specialist….you as your buyer specialist….

After we get the offer accepted…..After we get the offer accepted….. Closing escrow within 45 days can Closing escrow within 45 days can

have you in your new home for 4have you in your new home for 4thth of Julyof July

Conditional CloseConditional Close

If we could get the seller to remove If we could get the seller to remove the Spa could that work for you?the Spa could that work for you?

What if the seller gave you a credit What if the seller gave you a credit to cover the cost of paint and you to cover the cost of paint and you could repaint your colors?could repaint your colors?

If we get the seller to cover a termite If we get the seller to cover a termite insurance policy for the next 12 insurance policy for the next 12 months would that work for you?months would that work for you?

Tie-Down CloseTie-Down Close

It would be best for us to meet at It would be best for us to meet at my office don’t you agree?my office don’t you agree?

Getting this home at that price Getting this home at that price would be fantastic wouldn’t it?would be fantastic wouldn’t it?

This meets all your needs doesn’t This meets all your needs doesn’t it?it?

I think this is the nicest property I think this is the nicest property we have seen in this price range we have seen in this price range don’t you?don’t you?

Closes For BuyersCloses For BuyersPage 23Page 23

Sign the ContractSign the Contract

Soft Sell AgreementSoft Sell Agreement Suggested CAR Form BRE Suggested CAR Form BRE

(exclusive)(exclusive)– This form is the only one that This form is the only one that

guarantees you will be paid at the guarantees you will be paid at the successful close of escrowsuccessful close of escrow

Do You Want to Be a Do You Want to Be a Buyers SpecialistBuyers Specialist

Be Able to Sell the BenefitsBe Able to Sell the Benefits Know the InventoryKnow the Inventory Know the ContractKnow the Contract Know how to NegotiateKnow how to Negotiate Understand Market Understand Market

ConditionsConditions

Iceberg StoryIceberg Story

InterviewInterview

Practice tonight we will Practice tonight we will

Role Play the interview tomorrowRole Play the interview tomorrow